Medical Nitrous Oxide Market

Medical Nitrous Oxide Market by Product (Gas, Liquid), Application (Anaesthesia, Pain, Cryosurgery, Surgical Insufflation), End User (Hospital, Home healthcare, Academic, Research Institution), Key Stakeholder & Buying Criteria - Global Forecast to 2029

Report Code: MD 8935 Feb, 2024, by marketsandmarkets.com

The global medical nitrous oxide market in terms of revenue was estimated to be worth $1.8 Billion in 2023 and is poised to reach $2.8 Billion by 2029, growing at a CAGR of 6.6% from 2023 to 2029. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The primary impetus behind the medical nitrous oxide market stems from various factors, including the expanding elderly population, improvements in healthcare infrastructure, the desire for non-invasive pain relief methods, and the presence of supportive regulations and standards governing the utilization of medical gases. Furthermore, the escalating volume of surgical procedures, observed in both developed and developing nations, creates a favorable prospect for the heightened adoption of medical nitrous oxide in anesthesia and analgesia, presenting additional avenues for industry expansion.

Global Medical Nitrous Oxide Market Trend

Nitrous Oxide Market

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Nitrous Oxide Market

Brain Monitoring Market Dynamics

Driver: Improvements in healthcare infrastructure

Enhancements in healthcare infrastructure serve as a catalyst for the growth of the medical nitrous oxide market. The continuous improvement and development of healthcare facilities contribute significantly to the increased demand for medical nitrous oxide. This is attributed to the heightened capability of upgraded healthcare infrastructure to support advanced medical procedures, including surgeries and pain management, wherein nitrous oxide plays a crucial role. As healthcare systems evolve and modernize, the demand for medical nitrous oxide is expected to rise proportionately, aligning with the evolving needs and standards of sophisticated healthcare delivery.

Restraint: Availability of alternatives

The presence of alternative solutions poses a restraint to the medical nitrous oxide market. The availability of other options for anesthesia and pain management in healthcare settings creates a competitive environment for medical nitrous oxide. Healthcare providers may opt for alternative methods based on factors such as patient preferences or specific medical requirements, impacting the market demand for nitrous oxide. This competition from alternative solutions represents a challenge for the widespread adoption of medical nitrous oxide in certain medical procedures.

Opportunity: Growing demand for pain management

The increasing demand for pain management presents a significant opportunity for the medical nitrous oxide market. As the need for effective and non-invasive pain relief methods continues to grow, medical nitrous oxide stands poised to capitalize on this trend. The unique analgesic properties of nitrous oxide make it a valuable asset in pain management within healthcare settings. This rising demand positions medical nitrous oxide as a preferred choice for healthcare professionals seeking efficient solutions for pain relief, thereby contributing to the expansion and opportunities within the market.

Challenge: Limited awareness

Limited awareness poses a challenge to the medical nitrous oxide market. The insufficient understanding and awareness among healthcare professionals and patients regarding the benefits and safety of nitrous oxide hinder its widespread adoption for medical and dental procedures. Overcoming this challenge requires targeted educational initiatives to enhance awareness and promote the advantages of using nitrous oxide in various healthcare settings. Increasing knowledge within the medical community and among patients is crucial for fostering greater acceptance and utilization of nitrous oxide, addressing the challenge of limited awareness in the market.

Ecosystem of Medical Nitrous Oxide Industry:

Nitrous Oxide Market Ecosystem

The gasesous segment of medical nitrous oxide industry is expected to account for the largest market share in 2023

In 2023, the medical nitrous oxide market experienced segmentation into gaseous and liquid states based on products, with the gaseous segment taking the lead. The prominence of the gaseous state within the medical nitrous oxide market can be credited to its adaptability in various applications, notably for anesthesia and analgesia in surgical procedures. The inclination towards the gaseous form in medical settings is influenced by its easy administration, accurate dosage control, and rapid onset of action.

The anesthesia and pain relief segment of medical nitrous oxide industry to register the highest growth rate in the forecast period.

In 2023, the medical nitrous oxide market was classified into segments including anesthesia and pain relief, cryosurgery, and surgical insufflation. The anesthesia and pain relief segment emerged as the dominant category, holding the largest market share. The supremacy of anesthesia and pain relief applications within the medical nitrous oxide market is ascribed to their pivotal roles in both surgical and medical procedures. Nitrous oxide, well-regarded for its anesthetic and analgesic properties, finds widespread adoption in healthcare settings due to its effectiveness in inducing conscious sedation and alleviating pain during various medical interventions. This dominance is evident in the extensive use of nitrous oxide by healthcare professionals, leveraging its ability to provide rapid and controllable sedation, thus significantly enhancing patient comfort and procedural success.

The home healthcare segment of medical nitrous oxide industry is expected to register the highest growth during the forecast period

The medical nitrous oxide market is classified by end user into hospitals, home healthcare, and academic and research institutions. As of 2023, the home healthcare segment is expected to register the highest growth during the forecast period . This is primarily due to evolving healthcare trends and an increasing preference for healthcare services delivered in the comfort of patients' homes. The demand for medical nitrous oxide in home healthcare settings is rising as it becomes a viable option for pain management and certain medical procedures outside traditional healthcare facilities. The convenience, flexibility, and personalized nature of home healthcare contribute to the substantial growth of the medical nitrous oxide market within this particular segment.

North America to be the largest regional segment in the medical nitrous oxide industry during the forecast period.

Based on the region, the global medical nitrous oxide market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest share of the market in 2023. The Asia Pacific region is anticipated to experience the most rapid growth during the forecast period. The significant expansion of the market in the Asia Pacific can be attributed to the a rise in surgical procedures, dynamic growth in healthcare infrastructure, and an increasing awareness of the advantages of nitrous oxide. These factors collectively contribute to an increased demand for medical nitrous oxide in the APAC region.

Nitrous Oxide Market by Region

To know about the assumptions considered for the study, download the pdf brochure

The medical nitrous oxide market is dominated by a few globally established players such as Southern Gas Limited (India), Jiangsu Huazhong Gas Co., Ltd. (China), American Welding & Gas (US), Carbide and Chemicals (India), nexAir (US), Air Liquide (Paris), Linde plc (Ireland), Messer SE & CO. KGAA (Germany), SOL SpA (Italy), Chengdu Taiyu Industrial Gases Co., Ltd. (China),Oxygen & Argon Works Ltd (Israel), Matheson Tri-Gas Inc. (US), CalOx (US), Steelman Gases Pvt. Ltd. (India), Earlbeck Gases & Technology (US), Ellenbarrie Industrial Gases (India), Norco Inc. (US), and Gulf Cryo (UAE).

Scope of the Medical Nitrous Oxide Industry

Report Metric

Details

Market Revenue in 2023

$1.8 Billion

Projected Revenue by 2029

$2.8 Billion

Revenue Rate

Poised to Grow at a CAGR of 6.6%

Market Driver

Improvements in healthcare infrastructure

Market Opportunity

Growing demand for pain management

The study categorizes the medical nitrous oxide market to forecast revenue and analyze trends in each of the following submarkets:

By Product

  • Gaseous State
  • Liquid State

By Application

  • Anesthesia and Pain Relief
  • Cryosurgery
  • Surgical Insufflation

By End User

  • Hospitals
  • Home Healthcare
  • Academic & Research Institutions

By Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Latin America
  • Middle East & Africa

Recent Developments of Medical Nitrous Oxide Industry:

  • In December 2023, Linde Healthcare has partnered with the Air Force Materiel Command to supply liquid oxygen and nitrogen to healthcare, manufacturing, metals, and mining.
  • In July 2023, Air liquid started a project to transform the Home Healthcare activity in France to align it with the needs and expectations of patients and healthcare professionals and adapt its business model to meet the challenges of the country's healthcare system.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION 
    1.1 OBJECTIVES OF THE STUDY 
    1.2 MARKET DEFINITION 
    1.3 MARKET SCOPE 
           1.3.1 MARKETS COVERED
           1.3.2 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY 
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY 
    2.1 RESEARCH APPROACH 
           2.1.1 SECONDARY SOURCES
           2.1.2 PRIMARY SOURCES
    2.2 MARKET SIZE ESTIMATION METHODOLOGY 
    2.3 MARKET ESTIMATION 
    2.4 MARKET DATA ESTIMATION AND TRIANGULATION 
    2.5 ASSUMPTIONS FOR THE STUDY 
    2.6 RISK ASSESMENT 
    2.7 LIMITATION 
    2.8 RECESSION IMPACT ON MEDICAL NITROUS OXIDE MARKET 
 
3 EXECUTIVE SUMMARY 
 
4 PREMIUM INSIGHTS 
 
5 MARKET OVERVIEW 
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           5.2.1 DRIVERS
           5.2.2 RESTRAINTS
           5.2.3 OPPORTUNITIES
           5.2.4 CHALLENGES
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 
    5.4 CASE STUDIES 
    5.5 ECOSYSTEM ANALYSIS 
    5.6 VALUE CHAIN ANALYSIS 
    5.7 TECHNOLOGY ANALYSIS 
    5.8 TARIFF & REGULATORY ANALYSIS 
           5.8.1 REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS
    5.9 PORTERS FIVE FORCES ANALYSIS 
    5.10 INDUSTRY TRENDS 
    5.11 PRICING ANALYSIS 
           5.11.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY APPLICATION
           5.11.2 AVERAGE SELLING PRICE TREND, BY REGION
    5.12 KEY CONFERENCES & EVENTS, 2023-2024 
    5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS
           5.13.2 BUYING CRITERIA
    5.14 PATENT ANALYSIS 
 
6 MEDICAL NITROUS OXIDE MARKET, BY PRODUCT 
    6.1 INTRODUCTION 
    6.2 GASEOUS STATE 
    6.3 LIQUID STATE 
 
7 MEDICAL NITROUS OXIDE MARKET, BY APPLICATION 
    7.1 INTRODUCTION 
    7.2 ANAESTHESIA AND PAIN RELIEF 
    7.3 CRYOSURGERY 
    7.4 SURGICAL INSUFFLATION  
 
8 MEDICAL NITROUS OXIDE MARKET, BY END USER 
    8.1 INTRODUCTION 
    8.2 HOSPITALS  
    8.3 HOME HEALTHCARE 
    8.4 ACADEMIC AND RESEARCH INSTITUTIONS 
 
9 MEDICAL NITROUS OXIDE MARKET, BY REGION  
    9.1 INTRODUCTION 
    9.2 NORTH AMERICA 
           9.2.1 NORTH AMERICA: IMPACT OF ECONOMIC RECESSION
           9.2.2 US
           9.2.3 CANADA
    9.3 EUROPE 
           9.3.1 EUROPE: IMPACT OF ECONOMIC RECESSION
           9.3.2 GERMANY
           9.3.3 UK
           9.3.4 FRANCE
           9.3.5 SPAIN
           9.3.6 ITALY
           9.3.7 REST OF EUROPE
    9.4 ASIA PACIFIC 
           9.4.1 ASIA PACIFIC: IMPACT OF ECONOMIC RECESSION
           9.4.2 JAPAN
           9.4.3 CHINA
           9.4.4 INDIA
           9.4.5 REST OF ASIA PACIFIC
    9.5 LATIN AMERICA 
           9.5.1 LATIN AMERICA: IMPACT OF ECONOMIC RECESSION
    9.6 MIDDLE EAST & AFRICA 
           9.6.1 MIDDLE EAST & AFRICA: IMPACT OF ECONOMIC RECESSION
 
10 COMPETITIVE LANDSCAPES 
     10.1 OVERVIEW 
     10.2 KEY PLAYER STRATERGIES 
     10.3 REVENUE ANALYSIS 
     10.4 MARKET SHARE ANALYSIS 
     10.5 COMPANY EVALUATION MATRIXCOMPETITIVE LEADERSHIP MAPPING  
             10.5.1 STAR
             10.5.2 EMERGING LEADERS
             10.5.3 PERVASIVE PLAYERS
             10.5.4 PARTICIPANTS
             10.5.5 COMPANY FOOTPRINT
     10.6 START- UP/SME EVALUATION MATRIX 
             10.6.1 PROGRESSIVE COMPANIES
             10.6.2 RESPONSIVE COMPANIES
             10.6.3 DYNAMIC COMPANIES
             10.6.4 STARTING BLOCKS
                        10.6.4.1 COMPETITIVE BENCHMARKING
     10.7 COMPETITIVE SITUATION & TRENDS  
             10.7.1 PRODUCT LAUNCHES
             10.7.2 DEALS
             10.7.3 OTHERS
(Business Overview, Financials, Recent Developments, MnM View)
 
11 COMPANY PROFILES 
     11.1 AIR LIQUIDE (AIRGAS) 
     11.2 LINDE PLC 
     11.3 AIR PRODUCTS 
     11.4 TAIYO NIPPON SANSO CORPORATION 
     11.5 MESSER SE & CO. KGAA 
     11.6 SOL SPA 
     11.7 NORCO INC. 
     11.8 MATHESON TRI-GAS,INC 
     11.9 CALOX  
     11.10 STEELMAN GASES PVT. LTD. 
     11.11 EARLBECK GASES & TECHNOLOGIES 
     11.12 ELLENBARRIE INDUSTRIAL GASES. 
     11.13 NEXAIR 
     11.14 AMERICAN WELDING & GAS. 
     11.15 OXYGEN & ARGON WORKS LTD 
     11.16 CARBIDE AND CHEMICALS  
     11.17  JIANGSU HUAZHONG GAS CO., LTD. 
     11.18 CHENGDU TAIYU INDUSTRIAL GASES CO., LTD. 
     11.19 SOUTHERN GAS LIMITED 
     11.20 GULF CRYO OTHER FIVE EMERGING COMPANIES 
 
12 APPENDIX 
     12.1 INSIGHTS OF INDUSTRY EXPERTS 
     12.2 DISCUSSION GUIDE 
     12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     12.4 AVAILABLE CUSTOMIZATIONS 
     12.5 RELATED REPORTS 
     12.6 AUTHOR DETAILS  
 
NOTE:  
The segmentation given may change depending upon research findings 
The list of companies mentioned above is indicative only and may change as per further research findings. Key 25 companies will be profiled in this section. Details on Overview, Products and Services, Financials, Strategy & Development Might Not Be Captured in Case of Unlisted Companies 
Years considered for the study would be Historical year – 2021, Base Year – 2022, Estimated ‘’Year – 2023, Forecast Period – 2023 to 2028 
The market tables would include value data in USD for the years 2021, 2022,2023 and forecasted value for 2028 along with CAGR for the period 2023-2028 

The study involved four major activities in estimating the current size of the medical nitrous oxide market. Exhaustive secondary research was done to collect information on the market and its different sub-segments. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of the segments and sub-segments.

Secondary Research

This research study involved the extensive usage of secondary sources; directories; databases such as Bloomberg Business, Factiva, and Wall Street Journal; white papers and annual reports; company house documents; investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the brain monitoring market. It was also used to obtain important information about the key market players, market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

Primary Research

In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information important for this report. Primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related executives from various key companies and organizations operating in the medical nitrous oxide market. After the complete market engineering process (which includes calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at.

Some of the major objectives of primary research are:

  • To validate market segmentation defined through an assessment of the product portfolios of leading players
  • To understand the key industry trends and technologies defining the strategic growth objectives of market players
  • To gather both demand- and supply-side validation of the key factors affecting the market growth
  • To validate assumptions for the market sizing and forecasting model used for this study
  • To understand the market position of leading players in the medical nitrous oxide market and their market share/ranking

Breakdown Of Primary Participants

Nitrous Oxide Market Size, and Share

*Others include sales managers, marketing managers, and product managers.

Note: Tiers are defined based on a company’s total revenue. As of 2023, Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 = <USD 500 million.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Top-down approach used to estimate and validate the total size of the Medical nitrous oxide market. This methods were also used extensively to estimate the size of various subsegments in the market.

Top-down approach

The overall medical nitrous oxide market size was used in the top-down approach to estimate the sizes of other individual markets (mentioned in the market segmentation by product, application, end user, and region) through percentage splits from secondary and primary research.

For the calculation of each type of specific market segment, the most appropriate immediate-parent market size was used for implementing the top-down approach. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained. Market shares were then estimated for top companies to verify the total market revenue arrived earlier in the bottom-up approach.

Nitrous Oxide Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size, from the market size estimation process explained above, the medical nitrous oxide market was split into segments and subsegments. To complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the medical nitrous oxide industry.

Market Definition

Medical nitrous oxide is a pharmaceutical-grade, colorless, and odorless gas widely employed in healthcare settings for its anesthetic and analgesic properties. It is utilized as a medical gas in controlled environments, primarily in hospitals and dental clinics, to induce conscious sedation and alleviate pain during various medical procedures. Medical nitrous oxide is administered through specialized delivery systems to ensure precise dosage control, providing healthcare professionals with a reliable means of managing patient comfort and facilitating effective anesthesia.

Key Stakeholders

  • World Health Organization (WHO)
  • National Center for Biotechnology Information (NCBI)
  • Centers for Disease Control and Prevention (CDC)
  • US Food and Drug Administration (FDA)
  • Drug Enforcement Administration (DEA)
  • European Medicines Agency (EMA)
  • Compressed Gas Association (CGA)
  • American Society of Anesthesiologists (ASA)

Report Objectives

  • To define, describe, and forecast the medical nitrous oxide market based on the product, application, end user, and region
  • To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, opportunities, and challenges)
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall medical nitrous oxide market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To profile the key players in the market and comprehensively analyze their market shares and core competencies2
  • To forecast the size of the market segments with respect to four main regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
  • To track and analyze competitive developments such as new product launches, agreements, collaborations, and expansions.

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Report Code
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